Central China Real Estate’s (CCRE) dollar bonds dropped as much as 4% with Bloomberg reporting that concerns over the possible delay of delivering certain projects related to its football and cultural segment witnessed a fallout from rainstorms and flooding in Henan. CCRE is seeking local government support regarding the event. CCRE The projects involve CCRE separately said that it has set aside sufficient cash to repay a $400mn bonds due November 2021 as per investors who participated in a company call.
Central China’s Dollar Bonds Fall ~4% on Concerns Over Project Delay
